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Demand: The Benefit Side of the Market

Outline. State the Law of Demand (LoD) and relate the LoD to the Benefit-Cost PrincipleApply the Benefit-Cost Principle to important decisions facing consumersMeasuring responsiveness by elasticityExamine how price elasticity of demand determines the relationship between the amount spent on a goo

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Demand: The Benefit Side of the Market

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